2005News

Petro-Caribbean agreement to become official

The Minister of Industry and Commerce, Francisco Javier Castillo, has said that DR would formalize its integration into the Petro-Caribbean Agreement on 5 September 2005. According to a report in El Caribe, the agreement seeks to double the amount of crude oil entering the country to 100,000 barrels. The ratification of this agreement with Venezuela will be a relief for the nation and will benefit consumers as the country will always have sufficient fuel, on time, and with advantageous conditions, stated the Minister. Castillo announced that the government would announce the measures it plans to implement in order to reduce crude oil consumption in the next few days. He warned that the measures would be drastic but necessary.